Sources: smart ring maker Oura and some of its backers seek to raise up to $3B in a US IPO that could take place as soon as September and value it at over $16B (Bloomberg)

Oura Health Oy and several investors are preparing a U.S. IPO that could launch as early as September, targeting up to $3 billion in proceeds and a valuation exceeding $16 billion. The offering would monetize the company’s smart-ring platform, which monitors health, fitness and sleep metrics, and would position Oura among the most valuable consumer-hardware listings.